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Report: Biden Plans Retroactive
Capital Gains Tax Hike

Original Article

Posted By: Imright, 5/27/2021 6:46:48 PM

Thinking about selling some appreciated investments before the big Biden tax hike kicks in?It may already be too late.President Biden’s blockbuster $6 trillion budget assumes that his proposed capital-gains tax hike took effect in April, according to the Wall Street Journal.Biden has proposed raising the top tax rate on capital gains to 43.4 percent from 23.8 percent for households with income over $1 million.“The effective date for the capital-gains tax rate increase would be tied to Mr. Biden’s announcement of the tax increase as part of his American Families Plan,

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Reply 1 - Posted by: GoodDeal 5/27/2021 6:58:07 PM (No. 798581)
The collapse of the economy is imminent.
25 people like this.

Reply 2 - Posted by: bad-hair 5/27/2021 6:59:34 PM (No. 798582)
Take one last look at your 401K plans folks. Nice numbers but they were gone last month. Next month the "wealth" tax kicks in and then we'll talk about the federal sales tax and the VAT. Kiss your retirement good bye.
9 people like this.

Reply 3 - Posted by: phosita 5/27/2021 7:00:36 PM (No. 798583)
Just remember Joe, you started this. It won’t end the way you want it to. Many of us going to HODL. You cannot force me to sell. I will now HODL to hurt you and your ilk. And. I. Will. Not. Be. Alone. We will bring you down.
10 people like this.

Reply 4 - Posted by: lakerman1 5/27/2021 7:19:22 PM (No. 798596)
Most millionaires got there by not being stupid. This proposed increase in capital gains will freeze people, and the markets, in place. This has to be the stupidest proposal I can recall. Ever.
15 people like this.

Reply 5 - Posted by: Geoman 5/27/2021 7:20:09 PM (No. 798598)
Ex Post Facto laws are expressly unconstitutional.RLD STI Corp Books. SCOTUS has waffled on the issue of new tax vs amending an existing tax by raising rates. If those making over the $1M threshold threaten to burn Minneapolis, the Roberts Court may rule Biden's gambit unconstitutional.
8 people like this.

Reply 6 - Posted by: Corndoggies 5/27/2021 8:19:19 PM (No. 798612)
I had to look that up #3. Hold On for Dear Life. That sums it up nicely.
4 people like this.

Reply 7 - Posted by: stablemoney 5/27/2021 8:21:39 PM (No. 798613)
I expect they will follow up with nationalizing people's 401k's to bail them out of the debt catastrophe.
6 people like this.

Reply 8 - Posted by: Stencil 5/27/2021 9:01:20 PM (No. 798636)
HODL is ‘hold’ as relates to STONKS (stocks) to fast-typing texters, particularly the WSB galaxy.
0 people like this.

Reply 9 - Posted by: MickTurn 5/27/2021 9:11:45 PM (No. 798645)
An Expost Facto Law, Unconstitutional...
1 person likes this.

Reply 10 - Posted by: weirdone 5/27/2021 9:32:19 PM (No. 798663)
Ex post facto laws are expressly forbidden by the United States Constitution in Article 1, Section 9, Clause 3 (with respect to federal laws) and Article 1, Section 10 (with respect to state laws).
1 person likes this.

Reply 11 - Posted by: nina584 5/27/2021 9:33:24 PM (No. 798664)
He will be impeached in 2023
2 people like this.

Reply 12 - Posted by: bobn.t 5/27/2021 10:35:35 PM (No. 798710)
Biden acquiesing to Obama, Jarret, and Mooch.
2 people like this.

Reply 13 - Posted by: lakerman1 5/27/2021 10:54:54 PM (No. 798716)
#5, Dollar Bill Clinton, in 193, pushed through a retroactive tax increase, including an estate tax, also retroactive, to January of 1993. And there were no successful challenges in court, that I recall.
2 people like this.

Reply 14 - Posted by: DVC 5/27/2021 11:28:45 PM (No. 798741)
This will cripple the economy.
2 people like this.

Reply 15 - Posted by: smokincol 5/28/2021 12:52:30 AM (No. 798766)
Report: Biden Plans Retroactive Capital Gains Tax Hike" that should make the Fox Business crowd happy, huh? actually, it should read "obama Plans Retroactive Capital Gains Tax Hike " every good commie knows how to destroy another countries economy but has no idea how to grow their own economy.
1 person likes this.

Reply 16 - Posted by: geoguy 5/28/2021 1:11:53 AM (No. 798777)
Poster #5 that was my first thought. However, nothing will ever get done if it ever went into the legal system because the judges will keep saying you don’t have standing.
1 person likes this.

Reply 17 - Posted by: Trigger2 5/28/2021 1:32:55 AM (No. 798788)
A stupid incompetent policy by a stupid incompetent President.
0 people like this.

Reply 18 - Posted by: mifla 5/28/2021 5:22:03 AM (No. 798867)
It's never enough.
1 person likes this.

Reply 19 - Posted by: local500 5/29/2021 7:03:08 PM (No. 800388)
And just like that, a possibility of a recession is real.
0 people like this.

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